This country-by-country reference to business practices, regulations and laws, compiled by Jack A Gottschalk, is the need of the hour. With the reunification of the People's Republic of Germany and the Republic of Germany, in addition to the split of former Soviet Union, Yugoslavia and Czechoslovakia, the consequences have not only been relegated to the spheresof geopolitics and strategic planning but are equally important to the international business and investment communities.

Thus the handbook is the first comprehensive source of available information on business practices, regulations, foreign trade and investment law written for foreign investors. Encompassing 125 countries from Albania to Zimbabwe, the reader will find a complete review of topics including things like political environment, foreign investment policy, permitted business organisations, environmental protection, rights and obligations of foreign investors, labour laws, accounting requirements, currency controls,taxation, legal system, customs and duties, protection of intellectual property, immigration and residence and where to find investment assistance.

Despite the fact that electronic transfers are now made possible by technological advances in computers, software and satellite communications, national boundaries continue to have great economic significance. Each of the 155 economic systems covered here is unique; no two have exactly the same matrix of business practices, investment laws and trade regulations.

For example, even within the continent-wide marketplace of the European Community, there are national variations too significant for any prudent business person or investor to ignore.

Take the case of India. As delineated by the author, India's history has been marked by internal violence, extreme political factionalism and religious and language differences that have sometimes led to widespread demonstrations and bloodshed. The author further adds, ``India has extensive natural resources. However, the telecommunication system is unable to function properly under the requirements of modern business and the overall national infrastructure is in need of rehabilitation and expansion.Unemployment is rising and represents a major problem in terms of government's economic planning.''

The foreign investment policy enumerated by the book encompasses details on export processing zones, tax related incentives and even talks about the areas which are closed for foreign investment.

Other issues dealt with include formation and types of permitted business organisations, environmental protection, rights and obligations of foreign investors, labour, accounting requirements, currency controls, taxation, legal system, customs and duties, protection of intellectual property and immigration and residence.

In order to facilitate the foreign investor addresses and telephone numbers of the Foreign Investment Promotion Board, Secretariat of Industrial Approval, Ministry of Environment and Forests and the Reserve Bank of India have also been given. The list of countries with which India maintains diplomatic relations is also part of the text of the country.

This information has been gathered with a great deal of difficulty. As stated by the author in the introduction, letters were sent to virtually every government in the world that has or was presumed to have an interest in direct foreign investment and a foreign investment law or code that would govern such activities. Foreign investment laws or summaries of those laws were consulted and many telephone conversations with relevant embassy, consulate and mission personnel were held.

Books like these, which assist investors to understand the counties they are keen on investing in, is what is most required these days. It is also essential that these books are updated at regular intervals in order to give the latest information to the investors.

Global Trade and Investment Handbook
India reprint, 1997
Compiled by Jack A Gottschalk
Global Business Press
Price: Rs 2,500